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Lookers buys leading used car supermarket

Lookers plc has completed its acquisition of the Bristol Trade Centre, a used car supermarket.

The move gives Lookers a larger presence in the used car sector and is in line with the group’s strategy of broadening its revenue streams in the automotive industry.

Ken Surgenor, Lookers’ chief executive, says: “We announced some time ago our intention to strengthen our used car operations and the acquisition of the Bristol Trade Centre is the first step in that process.

We believe Lookers should develop broad revenue streams from all the sectors of the automotive industry, alongside the continuing development of our franchised car retailing business.”

Lookers is paying approximately £8.5m for the trading name and assests of the business from the current partners.

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